Page 35 - Ptt News Today : Breaking News, Live Updates & Top Stories | Vimarsana

The prolonged Russia-Ukraine war started in February and dragging on into the second quarter of 2022, has caused a hike in global crude oil prices to high levels. The average price of ICE Brent crude oil increased from 13.86 USD per barrel in the first quarter of 2022 to 111.63 USD per barrel in May 2022, resulting from international sanctions on Russia’s oil exports, oil tanker insurance, individuals, trading, financial institutions and banning Russian banks from the Society for Worldwide Interbank Financial Telecommunication (SWIFT), in response to Russia’s invasion of Ukraine. This resu...

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Thai oil and gas conglomerate PTT Group’s International Trading Business unit confirms no shortage of oil in the Thai market despite the ongoing Russia-Ukraine crisis but urges energy-saving discipline from all sectors. In admitting that volatility in global oil prices is uncontrollable, PTT Group recommends application of tools such as oil futures to achieve effective cost management.

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